Investor Dashboard
Key financial KPIs at a glance — % against revenues in QuickBooks-statement style.
Revenue Mix · % of Top Line
Cost Structure · % of Operating Cost
Use of Funds · % of $12M Raise
Problem & Solution
60% energy reduction + IoT building intelligence in one retrofit contract
The Problem
Commercial buildings spend 17–22% of operating cost on lighting and HVAC inefficiency, but 78% still operate on fluorescent or first-gen LED systems. Retrofit is fragmented across electrical contractors who lack the software layer to deliver ongoing energy intelligence — leaving 60% potential savings unrealized.
Our Solution
An end-to-end smart-lighting retrofit platform — proprietary fixture lineup with embedded IoT sensors, software-controlled dimming and occupancy management, and an EaaS (Energy-as-a-Service) financial wrapper that lets customers pay from realized savings with zero upfront capex.
Market Opportunity
$72B Smart Lighting addressable today
Smart-lighting segment growing 19% CAGR through 2030 · EaaS contracting model accelerating adoption
Two-track revenue: direct fixture + install sales (~38% gross margin) and EaaS contracts where customer pays 60–80% of monthly realized savings for 7 years (~52% IRR on contract NPV). Software subscription layer (€2/fixture/mo) attaches across both.
Financial Statements · % vs Revenue
QuickBooks-style readout — every line shown as percentage of its parent total.
Revenue Mix
| Revenue Stream | % of Revenue | Share |
|---|---|---|
| Direct Fixture & Install | 45.0% | 45% |
| EaaS Recurring Revenue | 35.0% | 35% |
| Software Subscriptions | 12.0% | 12% |
| Maintenance Contracts | 8.0% | 8% |
| Total Revenue | 100.0% | 100% |
Cost Structure
| Cost Line | % of Cost | Share |
|---|---|---|
| Fixture Manufacturing (COGS) | 38.0% | 38% |
| Installation Labor & Subcontractors | 18.0% | 18% |
| Sales & BD | 15.0% | 15% |
| Engineering & IoT Platform | 12.0% | 12% |
| EaaS Financing Cost | 10.0% | 10% |
| G&A | 7.0% | 7% |
| Total Operating Cost | 100.0% | 100% |
Use of Funds — $12M Raise
| Allocation | % of Raise | Share |
|---|---|---|
| Geographic Expansion (UK · GCC) | 35.0% | 35% |
| Manufacturing Capacity | 22.0% | 22% |
| Software & IoT R&D | 18.0% | 18% |
| Sales Team Build-Out | 15.0% | 15% |
| Working Capital | 10.0% | 10% |
| Total Use of Funds | 100.0% | 100% |
Valuation, Capital Structure & Forward View
An investment is a bet on the forward plan, so a trailing snapshot isn't enough. These are derived from this report's own ask and projections — not external estimates.
Capital Structure & Funding
A blended equity + debt structure — this round layers a credit facility (loan / project / trade / inventory finance) on top of the equity cheque. That puts leverage, debt service and lender covenants into the capital structure: drawdown conditions and coverage ratios are first-order diligence items, not footnotes.
How to read these
Rule of 40 sums forward revenue growth and EBITDA margin — ≥40 is healthy; below it flags growth bought at the cost of profit. Capital efficiency is Year-5 revenue per dollar raised. Entry multiple divides the disclosed cap / pre-money / asking price by Year-3 revenue, shown only where disclosed (n/d = not derivable). Verify against primary diligence.
Traction & Proof Points
- 180,000 smart fixtures deployed across 920 buildings in 8 EU markets
- Average customer energy reduction 58% vs pre-retrofit baseline (verified by M&V)
- €18M EaaS contract NPV booked across 64 customers — 96% renewal rate
Moat & Exit Strategy
Defensible Moat
Verified M&V data across 920 buildings creates the largest performance dataset in commercial smart lighting — enables better underwriting on new EaaS contracts. Multi-jurisdiction utility-rebate partnerships unlock €1.8M/yr in incremental revenue competitors can't easily access. EaaS contract book creates 7-year recurring revenue baseline.
Exit Path
Strategic acquisition by a global building-systems platform (Honeywell, Siemens, Schneider Electric, Signify), or roll-up into a sustainability-focused PE platform at 3–4x revenue / 11–14x EBITDA within 5–7 years.
Key Risks
- LED fixture commoditization compressing direct-sale margin
- Building owner credit risk in EaaS contracts during economic stress
- Energy-price volatility affecting savings-based contract economics
When the Thesis Breaks
Read this before trusting the forward numbers. The case rests on operating leverage — revenue growth converting into a holding-or-expanding EBITDA margin. The fastest way it breaks: a period where revenue grows but EBITDA falls (margin compression).
If any of the Key Risks above materialise, the forward projections in this report should be treated as suspended until the model is re-underwritten. The single most material trigger to watch: LED fixture commoditization compressing direct-sale margin.